By Greg Forester, Staff Writer
PLAINSBORO — The Plainsboro Township Committee voted Wednesday to adopt a revised version of the 2008 municipal budget, which will hand residents a slight drop in the municipal tax rate from what was originally projected.
The $20,796,826 budget calls for a 1.8-cent increase in the municipal tax rate, resulting in a total tax rate of 31.7 cents per $100 of assessed value. The original budget introduced by the Township Committee last month called for a 1.9-cent tax increase.
For the average homeowner with a residence assessed at the township average of $397,720, that results in a municipal tax bill of $1,261, up about $70 from a year ago.
Additional revenues from hotel taxes and court costs helped to offset the increase slightly, but the loss of nearly $400,000 in state aid, along with salary, health insurance and pension increases necessitated the increase, Township Administrator Robert Sheehan said.
”But we continue our strong financial condition and efforts in carefully managing the municipal tax rate,” Mr. Sheehan said.
Mayor Peter Cantu and the other Township Committee members voted 4-0 to adopt the budget, following the brief presentation and words from Mr. Sheehan. It represents an overall 8-percent increase over last year’s budget.
Committeeman Neil Lewis did not attend the meeting, although the committee had the four members necessary to adopt the budget.
”This budget has been a great job by township staff,” said Mayor Cantu. “We nearly managed to absorb a $400,000 reduction in state aid.”
The ability of the township to continue to maintain a reserve of surplus funds also helped this budget, Mayor Cantu said.
The 2008 budget contained an infusion of $3.2 million in surplus, which assisted in keeping the tax rate increase down to the level adopted Wednesday, at roughly 1.8 cents, or an additional $70 out of the pocket of the average resident, over last year’s budget.
Fully 1 cent of this year’s tax increase came out of the combined weight of the reduction in state aid and other uncontrollable factors, Mr. Sheehan said.
The budget includes some minor staff increases.
One is a machine operator-laborer position, which would be filled following the summer to assist with fall and winter weather cleanup.
Another is the part-time assistant to mayor position, which is being filled by former Township Clerk Patricia Hullfish.
Mr. Sheehan said the budget also included moneys for a long-awaited proactive road paving and surfacing program.
Besides adopting the budget, Township Committee members also approved some minor state-mandated revisions to the document, stemming from Department of Community Affairs review of the budget.
State officials said too much health insurance costs were included outside of funding included in certain state caps, requiring the change.
